NRI Account Minimum Balance: Updated for 2023

The NRI Account Minimum Balance is an aspect that has made many Non Resident Indians (NRIs) search the internet very often. It can be a struggle to individually visit every bank website and dig in for that one answer you are looking for. Top Banks in India such as ICICI, SBI, HDFC etc. have different minimum balance requirements. In this article, you will find the NRI account minimum balance in different Indian banks.

NRI Account Minimum Balance: Updated for 2023
NRI Account Minimum Balance: Updated for 2023

NRI Account Minimum Balance 2023

SBNRI has assorted the NRI Account Minimum Balance for every top bank in India to help NRIs with their research. You can check out the Minimum Balance Requirement for NRE/NRO Account for top banks in India in 2023.

Most of the Top Banks opt for an Average Quarterly Balance (AQB) or Average Monthly Balance (AMB) to open an NRE/NRO Account. The average AQB/AMB of most of the top banks for opening a NRE/NRO Account is Rs.10,000/-. Follow the grid for bank wise specification:

Bank NRE/NRO Minimum Balance
Axis Bank (AMB)Rs.10,000/-
Yes BankRs. 10,000
IDFC (AMB)Rs.25,000/-
Federal (AMB)Rs.5,000/-
Kotak (AQB)Rs.25,000/-
RBL (AMB)Rs.10,000/-
ICICI (AMB)Rs.10,000/-
HDFC (AMB)Rs.10,000/- (Metro/ Urban branches) Rs.5,000/-(Semi-Urban/Rural Branches)
SBI (AMB)Rs.3,000/- (Metro/ Urban branches)Rs.2,000/-(Semi-Urban)Rs.1,000/- (Rural Branches)
DCB (AMB)Rs.10,000/-
IndusInd (AQB)Rs.10,000/-
SBMRs. 10,000/-
Federal BankRs. 5,000
Minimum Balance Required by Top Banks

Minimum Balance Required by Top Banks for NRI Accounts in India

The following banks offers best NRI accounts in India. The NRO/ NRE account minimum balance requirements vary from bank to bank. Let’s find minimum balance required by top Indian banks in India.

1. Balance Required in SBI NRI Account

SBI NRI Account Minimum Balance varies from Rs. 50,000 to Rs. 1 lakh, depending on areas where branches are located.

LocationsSBI NRE/ NRO Account Minimum Balance
Metro & Urban AreasRs. 1 lakh  
Semi-Urban and Rural AreasRs. 50,000
SBI NRI Account Minimum Balance

Also Read: SBI NRE Savings Account: Online Application

2. HDFC Bank Minimum Balance

The Minimum Balance in HDFC Bank NRI account ranges from Rs. 5,000 to Rs.10,000/-.

AreasHDFC NRE/ NRO Account Minimum Balance
Metro & urban BranchesRs. 10,000
Semi-urban/ Rural branchesRs. 5,000

Also Read: HDFC NRE Savings Account: Features & Benefits

3. Axis Bank Minimum Balance in NRI Account

Account TypeNRE/ NRO Account Minimum Balance
Axis Easy Savings AccountRs. 10,000 to Rs. 12,000

Axis Prime Savings Account
Rs. 25,000

Also Read: Axis Bank NRI Account Opening: Apply for NRI Account Online

4. ICICI Bank NRI Account Minimum Balance

The minimum balance that you need to maintain in ICICI Bank NRI Account is Rs. 10,000.

Also Read: ICICI Bank NRE Savings Account: Features & Benefits

5. Balance Required in Bank of Baroda NRI Account

The NRI account holder needs to maintain a minimum of Rs. 1,000 in their Bank of Baroda NRI account.

Also Read: Bank of Baroda NRI Account Opening: Open NRI Account Online

6. Federal Bank NRI Account Minimum Balance

Federal Bank NRI account minimum balance varies based on NRE or NRO savings account type as under:

Account TypeFederal Bank NRI Account Minimum Balance
Fed NRI PowerRs. 5,000
Fed NRI PremiumRs. 25,000
Fed NRI PrivilegeRs. 1,00,000
Fed NRI EveRs. 50,000
FedFirstRs. 1,000
Fed NRI Care1,000
Fed NRE/NRO SB OnlineRs. 5,000
Fed NRE Noor OnlineRs. 5,000
Federal Bank NRI Account Minimum Balance

7. IndusInd Bank Minimum Balance

Given below is the Average Quarterly Balance Requirement for IndusInd bank-

(i) A & B Category Branches –
Rs. 10,000/- (Single Account)
Rs. 20,000/- (NRE & NRO Account, Combined Balance)

C & Rural Category Branches –
Rs. 5,000/- (Single Account)
Rs. 10,000/- (NRE & NRO Account, Combined Balance)

8. Kotak Bank Minimum Balance

The average quarterly balance of Rs. 25,000 is required for NRE/NRO account of Kotak Bank.

9. SBM Bank NRI Account Minimum Balance

The average monthly balance for SBM NRI Account minimum balance is Rs. 10,000.

Zero Balance NRI Account

NRI Account Application with SBNRI

Zero Balance NRI Account

There are not many Indian banks that offer zero balance NRI account. SBM (State Bank of Mauritius) allows zero balance NRI account. However, several banks allow NRIs to maintain minimal balance as low as Rs. 5000, like Yes Bank, Federal Bank, etc.

Download the SBNRI App or click on the button below to open your NRI Bank Account in the top banks of India effortlessly at the comfort of your home.


What is the cash deposit limit in NRE Account?

You can not deposit INR cash in an NRE Account. The NRE Account is used to maintain the income earned outside India. However, you can deposit foreign currency cash in your NRE Account. For deposits up to $5000, no additional papers are required, however if the amount of deposit is greater than $5000, you need to provide the Custom Declaration Form (CDF). With the form, there is no limit for cash deposits in an NRE Account.

Which is the best NRE Account?

Every major bank in India provides multiple benefits such as interest rates on deposits, variable minimum balance requirements, remittance options etc on their NRE Accounts. Also, the account opening processes offered by the top banks in India creates a major difference when considering ease and convenience. You can choose the best bank to open your NRE Account according to your needs. Browse through the account opening process for the top banks in India to choose the best bank and NRE Account.

Zero Balance NRI Account?

SBM offers a zero-balance NRI Account. To know about the account opening process at State Bank of Mauritius, click here.

NRE Account Rules?

There are various credits that are allowed in the NRE Account known as Permissible Credits. Credits refer to the money that can be deposited in a bank account. The permissible credits in an NRE account are:

1. Inward remittance from outside India 
2. Interest earned on the money deposited in the NRE account
3. Interest on investments made through the NRE Account
Transfer from other NRE/ FCNR(B) accounts 
4. Maturity gains from investments (if such investments were made from this account or through inward remittance)

There are certain restrictions on NRE Accounts as well. NRIs cannot deposit the following funds in the NRE account because NRE accounts are used to maintain the income earned outside India:

1. Cash in Indian Rupees
2. Gifts received in India
3. Any form of income generated in India (such as rent from property, pension etc.)

Can the minimum balance requirement for an NRI account change over time?

Yes, banks can change the minimum balance requirement for NRI accounts. They may revise their policies, including the minimum balance criteria, based on various factors such as market conditions, regulatory changes, and internal considerations. It is important to stay updated with the latest information from your bank.

Can an NRI have both an NRE and NRO account?

Yes, an NRI can have both an NRE and NRO account with the same bank or different banks in India. The NRE account is suitable for holding foreign income, while the NRO account is designed for managing income earned in India. Having both accounts can help segregate and manage your funds effectively.

Are NRI accounts repatriable?

Yes, NRE and FCNR accounts are repatriable, which means that funds in these accounts can be freely transferred back to the account holder’s overseas bank account. The principal amount and the interest earned in these accounts can be repatriated without any restrictions. However, the repatriation of funds from an NRO account is subject to certain conditions and limits set by the RBI.

What is SBI NRO account minimum balance?

The SBI NRO account minimum balance is Rs. 1 lakh for metro/urban locations and Rs. 50,000 for semi-urban/rural areas.

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